Toromont Industries Ltd. (TSE:TIH) Receives C$136.06 Consensus Price Target from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$136.06.

TIH has been the subject of a number of recent analyst reports. National Bankshares increased their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. CIBC increased their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Scotiabank increased their price objective on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th.

Insider Activity at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00. Over the last 90 days, insiders sold 10,200 shares of company stock worth $1,204,504. 0.27% of the stock is currently owned by company insiders.

Toromont Industries Trading Up 1.8 %

Shares of TIH stock opened at C$117.10 on Monday. The stock has a market cap of C$9.55 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a fifty day moving average of C$118.24 and a 200-day moving average of C$120.17. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53.

Toromont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.78%. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s payout ratio is currently 31.18%.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.